As artificially intelligent (AI) technologies become increasingly popular and accessible to the general public, my newsfeed is often inundated with the new "must have" app. Recently, it seems the app on everyone's lips (or, more specifically, fingertips) is the Bitcoin Profit App.
The app promises users a hassle-free solution to cryptocurrency investing, boasting that "around 85% of its trades close for a profit", with the caveat that this success rate is under "normal market conditions". In my experience of both personal investing in cryptocurrency, and working with clients with digital wealth and assets, what is considered "normal" in the crypto market is extreme unpredictability and volatility.
AI technology, which plays the crypto market for you, may sound appealing to those looking for a 'quick win', but is undoubtedly best left only to people who can afford - and are prepared - to lose anything they invest. Bitcoin Profit App - and the myriad of similar apps which are undoubtedly set to follow - have the potential to make or break. Anyone using these technologies will likely have heard of crypto and be looking to cash in on the rewards, but may not have invested the time to learn the risks.
The outcome of Bitcoin Profit App could go one of two ways, neither being problem-free. If it doesn't deliver on its promises, it could see hundreds of thousands of hopeful investors out of pocket.
If, however, it lives up to the hype and sees a new class of investors building stacks of digital wealth, they will then be left with the challenge of bringing that wealth into traditional finance routes. Experienced trustees - already in high demand - will become even more essential to new clients looking to cash-out their crypto.
Only time will tell which direction AI crypto investing will take. I'll be keeping a close eye on whether to take the leap myself but, at least for now, there are simply too many "what ifs" for me.
Bitcoin Profit claims that around 85% of its trades close for a profit under normal market conditions.
https://www.business2community.com/cryptocurrency/bitcoin-robots/bitcoin-profit-review